Monday, March 30, 2009

Moral privilege watch

It's really quite simple: Rick Wagoner had to go, but the head of Bank of America will not, because the people at the White House, including Obama himself, have simply decided not to acknowledge the massive, decades-long fraud that's been perpetrated on the American people. When a manufacturer creates an obsolete product and fails to track with the market, that's evidence of incompetence. (I actually agree with the White House on that count.)

The problem is, for the Lords of Finance the market seems to "just happen". We can't blame them, you see, because even though they created all of these problems they won't be forced to face the consequences. That's for the people who actually build things, apparently.